We need use the data to prepare cash flows from operating activities section of the statement...
Prepare the cash flows from operating activities section of the statement of cash flows for Myriad Products Company using the indirect method. 25 points TIGER ENTERPRISES Statement of Cash Flows For the Year Ended December 31, 2018 (5 in thousands) Cash flows from operating activities Net income Adjustments for noncash effects Depreciation expense Changes in operating assets and abilities Decrease in accounts receivable Increase in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in administrative and other payables...
Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER...
Pharoah Company's income statement for the year ended December 31, 2017, contained the following condensed information.Service revenue$842,000Operating expenses(excluding depreciation$626,000Depreciation expenses61,000loss on sale of equipment27,000714,000Income before income taxes128,000Income tax expense40,000Net income$88,000Pharoah's balance sheet contained the following comparative data at December 31Particulars20172016Accounts receivable$37,000$56,000Accounts payable39,00033,000Income taxes payable4,1008,400Prepare the operating activities section of the statement of cash flows using the indirect method
with this info i need to do a activites section of the statement of cash flows using indrect method? Portions of the financial statements for Alliance Technologies are provided below. 301,000 ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2018 Net sales $ Expenses: Cost of goods sold be $181,000 Operating expenses 56.000 Depreciation expense Income tax expense 20,000 Total experises 272,600 Olal expenses A Net income 28,400 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2018, compared...
Question 1 Using the following data, prepare the operating activities section of a statement of cash flows for Maximum Corporation for the year ended December 31, 20X6, using the indirect method. Increase in salary payable $1,50 Decrease in accounts payable 2,0000 Increase in accounts receivable 3,500 Net income 98,00 Decrease in inventory 5,800 Increase in prepaid expenses 1,200 Depreciation expense – equipment 5,000 Depreciation expense – building 7,500 Gain on sale of equipment 1,300 Loss on sale of patent 2,500
Question 1 Using the following data, prepare the operating activities section of a statement of cash flows for Maximum Corporation for the year ended December 31, 20X6, using the indirect method. Increase in salary payable $1,50 Decrease in accounts payable 2,0000 Increase in accounts receivable 3,500 Net income 98,00 Decrease in inventory 5,800 Increase in prepaid expenses 1,200 Depreciation expense – equipment 5,000 Depreciation expense – building 7,500 Gain on sale of equipment 1,300 Loss on sale of patent 2,500
Exercise 16-4 Indirect: Cash flows from operating activities LO P2 The following income statement and additional year-end Information is provided. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $ 245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense 18,125 361,660 475, 340 6,200 481,540 Gain on sale of equipment Net income $ Accounts receivable Inventory $30,500 increase 25,000 increase Accounts payable Salaries...
cash flows from operating activities - indirect method the net income reported Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $116,900. Depreciation recorded on store equipment for the year amounted to $19,300. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $47,810 $43,510 34,280 32,150 48,950 Accounts receivable (net)...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information and the statement of earnings information for Burch Company. Selected Statement of Financial Position Information Dec. 31, 2018 Dec. 31, 2017 Cash $17,500 $20,000 10,500 8,000 18,000 21,000 Accounts receivable Inventory Accounts payable Income taxes payable 10,000 15,000 1,000 2,500 Burch Company Statement of Earnings For the year ended December 31, 2018 Sales Cost of goods sold Depreciation expense $250,000 (160,000) (15,000) (35,000) (12,000)...
Partial balance sheets and additional information are listed below for sowell companySowell CompanyPartial Balance sheetsas on December 31Assets20162015Cash$40,000$20,000Accounts receivable70,00085,000Inventory40,00035,000LiabilitiesAccounts payable54,00062,000Additional information for 2016Net income$88,000Depreciation expense$19,000Prepare the operating activities section of statement of cash flow for 2016 using the indirect method